Send us Feedback

UnitedHealth Group (UNH)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

UNH » Topics » 50-64 PLAN

This excerpt taken from the UNH 10-Q filed May 11, 2006.

50-64 PLAN

This Fourteenth Amendment to the AARP Health Insurance Agreement (“Fourteenth Amendment” or “Amendment”), effective as of January 1, 2006 (the “Effective Date”), is made by and between AARP Services, Inc., a Delaware corporation (“ASI”) and United HealthCare Insurance Company, a Connecticut corporation (“United”). The parties hereto shall collectively be referred to as the “Parties”.

RECITALS

WHEREAS, AARP, the Trustees of the AARP Insurance Plan (“Trustees”), and United are parties to a certain AARP Health Insurance Agreement dated as of February 26, 1997 (the “Original Agreement”).

WHEREAS, by subsequent amendment and assignment on December 28, 1999, AARP, AARP Trust and United agreed to the assignment to and assumption by ASI of certain rights and obligations (the “Third Amendment”).

WHEREAS, various other amendments have been made to the Original Agreement (collectively, the “Agreement”).

WHEREAS, pursuant to the Ninth Amendment to the Agreement, the Parties have successfully launched a program offering comprehensive insurance products for AARP members age 50 to 64 (“50-64 Plan”) and wish to expand and extend this program.

 

*** Represents text which has been redacted and filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

 

1

NOW, THEREFORE, the Parties agree as follows:

 

A. Article 2 of the Agreement is amended by adding section 2.138 to read as follows:

2.138. Formal Product Offering Period (“Period”) for the 50-64 Plan means January 1, 2006 until December 31, 2006. This Period may be changed upon mutual written agreement.”

 

B. Section 6.1.1 of the Agreement is amended by the addition of a new third sentence to read as follows:

“AARP’s royalty for Policy Year 2006 shall be ***% of 50-64 Member Contributions.”

 

C. Section 6.2 of the Agreement is amended by the addition of a new fifth sentence in subsection 6.2.6(a) to read as follows:

“United’s Administrative Services Fee for Services provided for the 50-64 Plan in Policy Year 2006 shall be ***% of 50-64 Member Contributions.”

 

D. Section 6.3 of the Agreement is amended by amending subsection 6.3.4(a) to read as follows:

“6.3.4(a). United’s base risk and profit charge: ***% of 50-64 Member Contributions through December 31, 2005; ***% of 50-64 Member Contributions for Policy Year 2006;”

 

E. Exhibit 3.2.2(j)(5) is deleted in its entirety and a new Exhibit 3.2.2(j)(5), attached hereto and incorporated herein by reference, is substituted.

 

F. Exhibit 6.2.6(e) is deleted in its entirety and a new Exhibit 6.2.6(e), attached hereto and incorporated herein by reference, is substituted.

 

G. If the parties mutually agree to offer the 50-64 Plan beyond December 31, 2006, no later than December 31, 2006, the parties shall complete negotiations in good faith and reach agreement on new terms or a new agreement governing the 50-64 Plan.

 

*** Represents text which has been redacted and filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

 

2

H. Except as amended hereby, all other terms and conditions of the Agreement shall remain in full force and effect. This amendment may be executed in two counterparts, each of which need not contain the signature of more than one party. Both counterparts taken together shall constitute one and the same amendment.

IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date below indicated.

 

AARP Services, Inc.     United HealthCare Insurance Company
By:  

Dawn Sweeney

 

     By:  

Jim Pogue

 

Title:  

President

 

     Title:  

President, Ovations Insurance

 

Date:  

February 28, 2006

 

     Date:  

February 28, 2006

 

 

3

EXHIBIT 3.2.2(j)(5)

"50-64 PLAN" elsewhere:

Aetna (AET)
Walgreen Company (WAG)
Centene (CNC)
Coventry Health Care (CVH)
DaVita (DVA)
LABORATORY CORP OF AMERICA HOLDINGS (LH)
Magellan Health Services (MGLN)
Principal Financial Group (PFG)
Penn Treaty American (PTA)
The Travelers Companies (TRV)
WELLCARE HEALTH PLANS, INC. (WCG)
Procter & Gamble Company (PG)
Medtronic (MDT)
Quest Diagnostics (DGX)
Cardinal Health (CAH)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki